- OpenEden has launched the first smart contract vault managed by a regulated financial institution to offer 24/7 access to U.S. Treasury Bills (T-Bills).
- Stablecoin holders can mint TBILL tokens via the OpenEden TBILL Vault to earn the U.S. risk-free rate, which yields close to 5% p.a. as of March 2023.
OpenEden has launched a smart contract vault that is managed by a regulated financial institution and provides 24/7 access to U.S. Treasury Bills (T-Bills). This development is expected to help stablecoin holders earn the U.S. risk-free rate, which yields close to 5% p.a. as of March 2023, via the OpenEden TBILL Vault. The vault is the first smart contract vault to be managed by a regulated financial institution and is built to offer a low-risk, liquid, and transparent way to earn the U.S. risk-free rate to stablecoin holders.
.@openeden_hq is tokenizing US Treasury bills and has integrated @Chainlink Proof of Reserve 👀
Direct T-Bill exposure with 24/7 instant settlement on-chain, purchasable with stablecoins, providing ~5% yield
The RWA wave is growing pic.twitter.com/ZjR7bzOdZE
— ChainLinkGod.eth (@ChainLinkGod) April 4, 2023
The issuer of TBILL tokens is a professional fund that is regulated by the British Virgin Islands Financial Services Commission, and the vault’s assets are managed by OpenEden Pte Ltd, which is a financial institution regulated by the Monetary Authority of Singapore. TBILL tokens are 100% backed by real-world assets and are fully compliant with regulatory requirements. OpenEden has built a DeFi-native token that provides a seamless user experience in the market.
Stablecoin holders can mint TBILL tokens via the OpenEden TBILL Vault to earn the U.S. risk-free rate. This yield is close to 5% p.a. as of March 2023, providing stablecoin holders with a direct T-Bills exposure. Smart contracts enable instant minting and redemption on-chain, as opposed to up to two business days in traditional finance. A Chainlink Proof-of-Reserves is integrated with the off-chain custodian to verify the underlying assets and token price in near-real-time.
OpenEden has spent the past year building a DeFi-native token that is 100% backed by real-world assets and fully compliant with regulatory requirements. The TBILL tokens offered by OpenEden not only facilitate on-chain access to U.S. Treasury yields, but they are also integrated with a Chainlink Proof-of-Reserves to provide real-time transparency into the underlying assets of TBILL tokens.
OpenEden has collaborated with regulated service providers, leading banks, qualified custodians, and tier-1 legal counsel, including Circle, DBS Bank, KPMG, Elliptic, Harneys, Capital Asia Investments, and TJ Assurance Partners PAC.
In summary, the OpenEden TBILL Vault offers stablecoin holders a low-risk, liquid, and transparent way to earn the U.S. risk-free rate, which yields close to 5% p.a. as of March 2023. The vault is managed by a regulated financial institution, and TBILL tokens are 100% backed by real-world assets and fully compliant with regulatory requirements.